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SWFI First Read, January 30, 2017

Kung hei fat choi! (January 28, 2017)

The Year of the Rooster has arrived.

Kimberley Stafford to Lead PIMCO’s APAC Business

Newport Beach-based Pacific Investment Management Company (PIMCO) named Kimberley Stafford as the new head of Asia-Pacific. She plans to relocate to Hong Kong by the middle of 2017. Stafford was Managing Director and Global Head of the Consultant Relations Group at PIMCO. Stafford is replacing Eric Mogelof, who is the new Head of U.S. Global Wealth Management at PIMCO.

CPPIB Could Invest in DH Corporation

The Canada Pension Plan Investment Board (CPPIB) could potentially participate in the buyout of DH Corporation, a Canadian financial technology services provider. DH Corporation, formerly known as Davis + Henderson, hired Credit Suisse and Royal Bank of Canada as financial advisers. Major private equity firms such as Thoma Bravo, TPG and Cerberus Capital Management are considering buying DH Corporation.

Saudi Aramco Could Invest up to US$ 5 Billion in Renewable Energy Firms

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CIC Sells 10% Logicor Stake to Blackstone Fund

The China Investment Corporation (CIC) is selling a 10% stake of in European warehouse firm Logicor Ltd to a real estate fund managed by The Blackstone Group. Furthermore, CIC also hired Blackstone to oversee and manage Logicor’s warehouses and logistic properties portfolio.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Fintech Affirm Raises $200 Million in Series E Led By Singapore’s GIC

Affirm Inc., a financial technology firm which provides instant loans to consumers as an alternative to credit cards for their online shopping, has raised US$ 200 million in a Series E round lead by Singapore’s GIC Private Limited, with participation from Khosla Ventures, Lightspeed Venture Partners, Spark Capital, Caffeinated Capital, and Ribbit Capital. The new infusion of capital brings the San Francisco-based company’s total funding to US$ 450 million and a reported valuation of US$ 2 billion.

The company is founded by Max Levchin, a co-founder of PayPal (part of the PayPal mafia, dubbed by the tech press). Max Levchin is also an advisory board member of the Consumer Financial Protection Bureau (CFSB) in the United States.

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CHANGE: Saudi Arabia to Re-Open Movie Theaters, PIF Inks MoU with AMC

The Saudi Arabian government is ending its 35-year ban on cinemas. Next year, the government will allow cinemas to open. This watershed moment provides opportunities for entertainment companies to invest in Saudi Arabia and the surrounding region.

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